Complaints about banks continue to rise

banks Complaints about financial firms have risen to a record high as the PPI mis-selling scandal rumbles on.

The Financial Ombudsman Service (FOS) said new complaints rose 15% to 327,035 between January and June, which was helped along by a 26% increase in complaints about payment protection insurance (PPI).

The ombudsman said lenders were still dragging their heels on repayments to customers,  causing "long waits and unnecessary delays."

Complaints about Lloyds Banking Group were nearly five times higher than this time last year, while Barclays' complaints were up 81% on a year earlier. RBS were responsible for 22,940 complaints while HSBC saw 18,444 complaints lodged against them.

FOS chief executive Natalie Ceeney said: "Disappointingly we are still seeing cases where businesses are not following our long-standing approach to PPI, resulting in long waits and unnecessary delays for consumers. But, more positively, we are seeing encouraging signs from some major businesses that are starting to recognise the value of getting things right for their customers - with an increased focus on sorting out problems and concerns as quickly as possible."

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